Correlation Between Soder Sportfiske and Media
Can any of the company-specific risk be diversified away by investing in both Soder Sportfiske and Media at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Soder Sportfiske and Media into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Soder Sportfiske AB and Media and Games, you can compare the effects of market volatilities on Soder Sportfiske and Media and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Soder Sportfiske with a short position of Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Soder Sportfiske and Media.
Diversification Opportunities for Soder Sportfiske and Media
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Soder and Media is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Soder Sportfiske AB and Media and Games in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Media and Games and Soder Sportfiske is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Soder Sportfiske AB are associated (or correlated) with Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Media and Games has no effect on the direction of Soder Sportfiske i.e., Soder Sportfiske and Media go up and down completely randomly.
Pair Corralation between Soder Sportfiske and Media
Assuming the 90 days trading horizon Soder Sportfiske AB is expected to generate 0.55 times more return on investment than Media. However, Soder Sportfiske AB is 1.8 times less risky than Media. It trades about -0.2 of its potential returns per unit of risk. Media and Games is currently generating about -0.14 per unit of risk. If you would invest 2,200 in Soder Sportfiske AB on September 4, 2025 and sell it today you would lose (245.00) from holding Soder Sportfiske AB or give up 11.14% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Soder Sportfiske AB vs. Media and Games
Performance |
| Timeline |
| Soder Sportfiske |
| Media and Games |
Soder Sportfiske and Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Soder Sportfiske and Media
The main advantage of trading using opposite Soder Sportfiske and Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Soder Sportfiske position performs unexpectedly, Media can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Media will offset losses from the drop in Media's long position.| Soder Sportfiske vs. AVTECH Sweden AB | Soder Sportfiske vs. Investment AB Oresund | Soder Sportfiske vs. Diamyd Medical AB | Soder Sportfiske vs. SaltX Technology Holding |
| Media vs. Sedana Medical AB | Media vs. SaltX Technology Holding | Media vs. Train Alliance Sweden | Media vs. High Coast Distillery |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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